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Trump Threatens the NASDAQ After Exchange Halts Trading on His Media Company: ‘What’s Going On?’ (www.mediaite.com)

submitted 1 month ago by vegeta@lemmy.world to c/politics@lemmy.world

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[-] vegeta@lemmy.world 93 points 1 month ago* (last edited 1 month ago)

Yeah, the guy who has no idea what a trading curb is, is a very stable business genius. Of course there is a very high chance that he is just straight up lying to rile the ignorant.

Limit Up-Limit Down Circuit Breaker (Single Stock Circuit Breaker) – The Limit Up-Limit Down circuit breaker (“LULD”) is a market volatility moderator designed to prevent large, sudden price moves in a stock. In particular, it prevents trades in individual securities from occurring outside of a specified price band. This price band is set at a percentage level above and below the average price of the stock over the immediately preceding five-minute trading period. If the stock’s price moves to the price band and does not move back within the price bands within 15 seconds, trading in the stock will pause for five minutes. These price bands are 5%, 10%, 20%, or the lesser of $.15 or 75%, depending on the price of the stock and whether the stock is designated as a Tier 1 or Tier 2 NMS stock. Tier 1 NMS stocks include all securities in the S&P 500, the Russell 1000 and select Exchange Traded Products. Tier 2 NMS stocks include all other NMS securities, except for rights and warrants, which are specifically excluded from coverage. The LULD applies during regular trading hours from 9:30 am ET – 4:00 pm ET. The LULD’s price bands double during the last 25 minutes of the regular trading day for (i) all Tier 1 NMS stocks and (ii) Tier 2 NMS stocks at or below $3.00.

https://www.investor.gov/introduction-investing/investing-basics/glossary/stock-market-circuit-breakers#:~:text=A%20cross%2Dmarket%20trading%20halt,of%20the%20S%26P%20500%20Index.

https://www.nasdaqtrader.com/Trader.aspx?id=TradingHaltSearch

https://www.nasdaqtrader.com/trader.aspx?id=tradehaltcodes

LUDP Volatility Trading Pause

https://www.nasdaqtrader.com/content/MarketRegulation/LULD_FAQ.pdf

[-] OhmsLawn@lemmy.world 28 points 1 month ago* (last edited 1 month ago)

It's hilarious. They were literally ~~propping up the value of his company by preventing a price implosion.~~

It makes me wonder if his orders got cancelled.

Edit: my bad.

I failed to read the article. It was a price spike that got cut off. See below.

[-] Windex007@lemmy.world 12 points 1 month ago

I'm all for dunking on Trump, but you (or anyone here) should read the article.

It didn't trigger because the price was tanking. It triggered because it was going up too fast.

It was on news of Trump saying he wasn't going to sell.

[-] OhmsLawn@lemmy.world 1 points 1 month ago

Damn. My bad. Thank you

Edited my original comment with a strike-through.

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this post was submitted on 14 Sep 2024

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